To address some of the gaps in access to mentoring and targeted support for Black-led businesses, BSWN in partnership with Lloyds Bank developed a six-month support programme for the businesses and social care provider organisations in Bristol.
Access to finance, need for targeted support and networking opportunities remain key priorities for businesses, especially following the impact of the Covid-19 pandemic which exacerbated pre-existing barriers to access to support. One of our programme attendees explained that;
“We face difficulty with communications due to not speaking the 'corporate/business language' expected at investment meetings etc. Our image is not recognised within corporate nature so we are not taken seriously.”
Our Director, Sado Jirde, and Business Support Coordinator, Sibusiso Tshabalala, contributed to a roundtable meeting held in Bristol with Lloyds’ CEO Charlie Nunn, who said;
“For us at Lloyds Banking Group, that’s about how we can deliver our Race Action Plan and our commitment to be an anti-racist organisation. Last week, I had the chance to dig deeper on this commitment, listening to the Black South West Network, Foundervine, and our very own Black Business Advisory Committee about the recently published “Black. British. In Business & Proud” report.
The report shows that only 43% of Black-business owners currently trust banks to have their best interests in mind, and only 14% would go to their bank for advice – this simply needs to change. We all have a responsibility to understand the unique barriers faced by Black business owners and to drive action across the industry.”
Sado and Sibusiso joined the CEO of Lloyds Charlie Nunn at a round table meeting held at the Engine Side
The six-month mentoring programme will support 10 Black-led businesses and the entrepreneurs that lead them, pairing each with an experienced Relationship Manager from the Lloyds Bank team who will be able to support their professional development as well as help their understanding of the funding landscape.
Providing more direct business financial support for the businesses will be Jessica Fox, Area Business Manager at Lloyds, with monthly 1-1 surgeries program budgeting, program and service pricing, business accounts, advice and guidance on wealth and debt management and banking options and products.
Jessica Fox, Lloyds Area Manager photographed with Martina (Mina) Drobná, BSWN’s Operations Manager
Jessica will next join the BSWN team at the Coach House on 23rd November 2021. If you’re a Black-led business and you’d like to get in touch about our Business Support programme or the opportunity to speak with the Business Advisor, please get in touch with our Business Support Coordinator Sibusiso on businesssupport@bswn.org.uk.